London, UK – 10th June 2021: BitcoinPoint has today announced plans to leverage secure identity verification for KYC (Know Your Customer) checks from digital identity network Yoti, making it faster and easier for people to register, buy and sell Bitcoin.
BitcoinPoint is an app that enables people to buy Bitcoin easily online or on the highstreet. It is also the largest Bitcoin Teller service in the UK enabling 18,000 standard ATMs to convert bitcoin into cash since December 2020. Beginning in June, the company has leveraged a network of 27,000 Point of Sales to ensure 99% of the UK population are within one mile of buying and selling bitcoin with one click.
The rates offered with BitcoinPoint democratise cryptocurrency. The online rate through UK Fast Payment is only 0.2% and around 4-5% with agents, which is around 70% less than most Bitcoin ATMs which charge above 15%.
After downloading the BitcoinPoint app, individuals will verify their identity using Yoti. Over 2 million existing UK Yoti users can share their pre-verified identity and pass KYC checks in seconds. For users new to Yoti, the digital ID app is available on the App Store. Yoti accepts ID documents from over 195 countries, making it a global solution that promotes privacy and data minimisation.
Buying Bitcoin at an agent takes seconds using BitcoinPoint. People simply present a QR code within their app which is then scanned. Buying online takes less than 30 seconds with Open Banking technologies by connecting to any UK bank.
Benoit Marzouk, the Co-Founder & CEO of BitcoinPoint said: “We were looking for the best provider in the market and Yoti had an ideal end-to-end solution. We were also very impressed by Yoti’s existing network, which includes Post Office and supermarket ePOS leaders NCR.”
Robin Tombs, CEO at Yoti said: “Our UK network continues to expand both online and on the high street with over 11,500 Post Office branches soon to join 12,000 convenience stores accepting the Yoti and Post Office EasyID apps. BitcoinPoint’s innovative model works seamlessly with Yoti and our goal is to make it simpler and safer for people to do the things they enjoy in the physical and digital worlds using Yoti technology.”
The BitcoinPoint app with Yoti’s technology will be available by the end of this month.
About Yoti
- Yoti is a digital identity and biometric technology company that allows organisations to verify identities and trusted credentials online and in person.
- Yoti’s products span identity verification, age verification, document eSigning, access management, and authentication.
- Over 9 million people have downloaded the free Yoti app globally. Yoti is available in English, Spanish, French, German, Portuguese and Polish.
- Yoti is certified to ISO/IEC 27001:2013 for ID Verification Services, ISAE 3000 (SOC 2) Type 2 certified for its technical and organisational security processes.
Media contacts
For BitcoinPoint: https://www.bitcoinpoint.com
Mark Hindle at Yoti – press@yoti.com
Nikki Alvey at The PR Network – 07973 354 706, nikki.alvey@thepr.network